Prime Minister Nikolay Denkov, who spoke at a panel entitled Europe's Rush to Innovate as part of the World Economic Forum here on Tuesday, said that European scientists and innovators need to be allowed to experiment more, in order to be successful. Denkov added that such freedom would allow them to compete with their colleagues from the US and China, the Government press service reported.
The Prime Minister pointed out that in both science and innovation, the opportunity to conduct more experiments, albeit many of them unsuccessful, is essential for the end result. This is why the notion that funding should only be provided to projects that result in quick success is gradually losing traction.
Another key factor, according to Denkov, is the partnership between science and business. He said that it is important not to pit basic and applied science against each other, a principle that was realized and applied earlier in the US than in Europe. Denkov said that the US developed their scientific ecosystem related to innovation faster than Europe, which is why Europe should develop in this respect at an accelerated pace.
The panellists in Davos agreed that Europe needs to retain its talent, and that more efforts should be made to attract innovative minds.
/DS/
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